RxSight (NASDAQ:RXST) Trading Down 0.9% – What’s Next?

Shares of RxSight, Inc. (NASDAQ:RXST) dropped 0.9% on Thursday . The stock traded as low as $9.45 and last traded at $9.86. Approximately 1,204,278 shares changed hands during trading, an increase of 48% from the average daily volume of 816,409 shares. The stock had previously closed at $9.95.

Wall Street Analysts Forecast Growth

RXST has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of RxSight in a research report on Wednesday, October 8th. Stifel Nicolaus set a $10.00 price target on shares of RxSight in a report on Thursday, November 6th. JPMorgan Chase & Co. upped their price objective on shares of RxSight from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Thursday, November 6th. Wells Fargo & Company raised their target price on shares of RxSight from $9.00 to $10.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Finally, Morgan Stanley boosted their target price on shares of RxSight from $9.00 to $10.00 and gave the stock an “equal weight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $9.78.

RxSight Stock Down 0.9%

The company has a 50 day moving average price of $10.92 and a 200-day moving average price of $9.40. The company has a market cap of $405.44 million, a price-to-earnings ratio of -11.20 and a beta of 1.14.

RxSight (NASDAQ:RXST) last posted its earnings results on Wednesday, November 5th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.15. RxSight had a negative net margin of 25.15% and a negative return on equity of 12.82%. The business had revenue of $30.34 million for the quarter, compared to the consensus estimate of $25.63 million. During the same period last year, the company earned ($0.16) EPS. The firm’s revenue was down 31.4% compared to the same quarter last year. On average, analysts forecast that RxSight, Inc. will post -0.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new position in RxSight during the 2nd quarter worth about $28,000. Bessemer Group Inc. bought a new position in shares of RxSight during the second quarter worth about $33,000. Larson Financial Group LLC lifted its stake in shares of RxSight by 110.5% in the third quarter. Larson Financial Group LLC now owns 3,979 shares of the company’s stock worth $36,000 after acquiring an additional 2,089 shares during the period. CWM LLC boosted its holdings in RxSight by 614.1% in the second quarter. CWM LLC now owns 4,520 shares of the company’s stock valued at $59,000 after acquiring an additional 3,887 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in RxSight by 156.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,574 shares of the company’s stock valued at $72,000 after purchasing an additional 3,398 shares during the period. 78.78% of the stock is owned by institutional investors.

RxSight Company Profile

RxSight, Inc is a medical technology company focused on the development and commercialization of advanced intraocular lens (IOL) systems for patients undergoing cataract surgery and lens replacement procedures. The company’s flagship product, the Light Adjustable Lens (LAL), is designed to provide customized vision correction by allowing non‐invasive post‐operative adjustments. Using ultraviolet light, surgeons can fine‐tune the lens power after implantation to achieve optimal visual outcomes, reducing reliance on glasses or contact lenses and enhancing patient satisfaction.

Founded in 2011 and headquartered in Aliso Viejo, California, RxSight has pursued regulatory clearances and market access across multiple regions.